Canada-based Essar Steel Algoma has announced that it is investing CDN $240 million in a modernization and expansion program to make it more competitive and sustainable in tough global steel market conditions.
Supported by up to $60 million from the governments of Canada and Ontario, the investment will support technological and product innovation that will enable Essar Steel Algoma to meet the growing global demand for advanced grades of steel and support growth in related industries like shipbuilding, mining and manufacturing.
The modernization and expansion program will include the construction of the ladle metallurgy furnace No. 2, an upgrade and expansion of the direct strip production complex, the only facility in Canada that converts liquid steel directly into steel coils, and the automation of North America’s only combination plate and strip mill.